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Commercial Metals (CMC) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Commercial Metals (CMC - Free Report) closed at $39.26, marking a -1.53% move from the previous day. This change lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 5.14% over the past month, outpacing the Basic Materials sector's loss of 7.59% and the S&P 500's loss of 8.27% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.47, up 41.35% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.19 billion, up 18.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.29 per share and revenue of $8.38 billion. These totals would mark changes of +78.19% and +24.46%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Commercial Metals. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.92% higher. Commercial Metals is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Commercial Metals is holding a Forward P/E ratio of 6.34. This represents a premium compared to its industry's average Forward P/E of 3.46.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Commercial Metals (CMC) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Commercial Metals (CMC - Free Report) closed at $39.26, marking a -1.53% move from the previous day. This change lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the manufacturer and recycler of steel and metal products had lost 5.14% over the past month, outpacing the Basic Materials sector's loss of 7.59% and the S&P 500's loss of 8.27% in that time.
Commercial Metals will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.47, up 41.35% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.19 billion, up 18.85% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.29 per share and revenue of $8.38 billion. These totals would mark changes of +78.19% and +24.46%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Commercial Metals. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.92% higher. Commercial Metals is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Commercial Metals is holding a Forward P/E ratio of 6.34. This represents a premium compared to its industry's average Forward P/E of 3.46.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.